U.K. Materials Undervalued based on future growth

Hochschild Mining

Market Cap: UK£2.6b

A precious metals company, engages in the exploration, mining, processing, and sale of gold and silver deposits.

Pan African Resources

Market Cap: UK£2.1b

Engages in the mining, extraction, production, and sale of gold in South Africa.

RHI Magnesita

Market Cap: UK£1.4b

Develops, produces, sells, installs, and maintains refractory products and systems used in industrial high-temperature processes worldwide.

Atalaya Mining Copper

Market Cap: UK£1.3b

Engages in the mineral exploration and development in Spain.

Metals Exploration

Market Cap: UK£390.4m

Metals Exploration plc identifies, acquires, explores, and develops mining and processing properties in the United Kingdom, the Philippines, and Nicaragua.

AltynGold

Market Cap: UK£253.1m

Engages in the exploration and development of gold producing mine in the Republic of Kazakhstan.

Serabi Gold

Market Cap: UK£231.0m

Engages in the evaluation, exploration, and development of gold and other metals mining projects in Brazil.

Sylvania Platinum

Market Cap: UK£227.8m

Operates as a producer of platinum group metals including platinum, palladium, and rhodium, and chrome in South Africa.

Petropavlovsk

Market Cap: UK£47.5m

Petropavlovsk PLC operates as a gold mining company in the Far East of Russia.

Goldplat

Market Cap: UK£29.2m

Operates as a mining services company in South Africa and Ghana.